Williams, Inc., has compiled the following information on its financing costs: Type of Financing Book Value Market Value Cost Short-term $ 12,800,000 $ 12,900.000 3.1% debt Long-term debt 26.000.000 26,600,000 6.2 Common stock 9,800,000 66,000,000 12.0 Total $ 48,600,000 $105,500,000 The company is in the 24 percent tax bracket and has a target debt-equity ratio of 75 percent. The target short-term debt/long-term debt ratio is 25 percent. a. What is the company's weighted average cost of capital using book value weights? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.18.) b. What is the company's weighted average cost of capital using market value weights? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.18.) c. What is the company's weighted average cost of capital using target capital structure weights? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) * a. Weighted average cost of capital b. Weighted average cost of capital c Weighted average cost of capital 96 d. Which is the correct WACC to use for project evaluation? Target weights O Market weights O Book weights